Building to Become Progressive Workplace Environment
Lanham, MD – July 6, 2016 – Cohen Equities announced today that it has finalized a lease amendment with education technology company 2U Inc. that will add the two remaining vacant floors of 7900 Harkins Road to 2U’s in-place lease. With the additional space, 2U is now the sole tenant of the 324,000 square foot building, which will serve as its new corporate headquarters in 2017.
Cohen Equities acquired the transit-oriented asset in July 2015 on a 100 percent vacant basis. It spent the next six months structuring a creative deal with 2U that will see the building transformed into a new state-of-the-art facility. The lease includes a coordinated effort on the part of 2U and Cohen to redevelop not only 2U’s work space, but also the building lobby and a number of amenities, including a fitness center, employee/visitor lounge, auditorium and culinary services.
2U was recently named a Top Workplace by The Washington Post for the second consecutive year, which follows previous workplace awards from Glassdoor and DC Inno.
“The new headquarters will be an enhanced realization of 2U’s commitment to its rapidly growing team,” said Matt Legge, chief investment officer of Cohen Equities. “It was always our hope to have 2U as the sole tenant at 7900 Harkins Road. It will give 2U the unique ability to curate the building as they wish and infuse its identity throughout every square foot. Although we own the building, we really do consider it their home. A lot of organizations talk about creating progressive workplace environments, however, 2U is clearly a rare company that is going to accomplish it.”
About Cohen Equities
Cohen Equities is a national real estate investment firm that pursues commercial assets that present an opportunity to add value in both suburban markets and central business districts. The company has successfully acquired and improved more than 7 million square feet of real estate across the United States. Led by Meir Cohen, a real estate veteran with more than 30 years of experience, Cohen Equities creates significant value through active management, leasing and repositioning activities. For more about Cohen Equities, please visit cohenequities.com.